Hang On Tight! 22 Feb 2023
🖼 Daily Technical Picture 📈
➤ It was a strong red day across the board with small-cap and tech suffering the most. Interestingly the DOW 30 lost more than the S&P500. That is unusual. Our hanging wo(man) failed to hold on to support on two accounts. Firstly the short-term low at 405 and also the 200-day Moving Average.
➤ Today's losses wiped out all of the February gains as well as 50% of the gains for the year (as measured from the recent peak).
➤ So where will our hanging wo(man) land? Around 390 is a clear first target. If that doesn't hold, next level is 380.
➤ I continue to hold my large short position.
➤ Conclusion: Hang on tight!
➤ It was a strong red day across the board with small-cap and tech suffering the most. Interestingly the DOW 30 lost more than the S&P500. That is unusual. Our hanging wo(man) failed to hold on to support on two accounts. Firstly the short-term low at 405 and also the 200-day Moving Average.
➤ Today's losses wiped out all of the February gains as well as 50% of the gains for the year (as measured from the recent peak).
➤ So where will our hanging wo(man) land? Around 390 is a clear first target. If that doesn't hold, next level is 380.
➤ I continue to hold my large short position.
➤ Conclusion: Hang on tight!
🏆 eToro Popular Investor 💰
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.